IC Trial Balance ReconciliationCertification

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IC Trial Balance Reconciliation/Certification

• FY07 Financial Statement Workshop Presentation
• Jack Hart/Geoff Smith

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Introduction

• Purpose
• Controls
• Procedures Recap
• Current STARS Dev Team Efforts

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I. Purpose of the Reconciliation

• To ensure the accuracy of the STARS General
  Ledger which supports the majority of the
  Departments financial statement reporting and
  financial management information systems.

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II. Controls

• Checks within the IC Interface
• Balancing edits
• Combination edits
• The formal monthly IC Trial Balance
  reconciliation and certification process is also
  a key control
• Local procedures for maintaining adequate
  supporting documentation

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III. Procedures Recap

• Field Office IC TB Reconciliation/Cert Guide
• 1st and 3rd quarters reconciliation
  certification at full AFF level for specified SGL
  Accounts due 30 days after close of the quarter
• Other months (except October) reconciliation
  certification at Fund/SGL account level due 20
  days after close of each month.

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IV. Current STARS Dev Team Efforts

• Jack Hart, SRS, is currently working with STARS
  Dev Team to develop a process within STARS to
  perform this reconciliation.